Hi Sean - Great question. Moving to the another city has it's benefits, besides the obvious, finding homes that cash flow nicely, it may also be easier to secure financing if your local, some portfolio lenders only loan to local residents. What's more, you could qualify for an FHA loan, which could get you started with little money down. In terms, of the right market, you have to do your homework, look at population growth, business growth, job growth, unemployment rate, and the number of building permits issued for the past 3-5 years. Most importantly, can you and your wife find a job, if yes, would you be making the same amount as you currently earn? If not, it may make sense to stay in CA and buy-out-of-state. If you decide to go this route, find a property manager before you do anything else. Before you find an agent, before you look at any homes. Ask for references, at least 3, and check each one. As an out-of-state investor, this will be your most important hire. Good luck!
